According to the Council for Disability Awareness, most people don't know that most income-disrupting disabilities are caused by common health issues. What's more, barely 40 percent of respondents say they've thought about taking steps to protect their income.

The council's survey found 71 percent of respondents said disability is most likely caused by serious accidents. In reality, insurance statistics show that only 9 percent of long-term disability claims result from serious accidents. "Even though serious long-term and even permanent disabilities do occur, most income-interrupting disabilities are due to more common causes like back and joint pain, chronic diseases, cancers, depression and even pregnancy," said Barry Lundquist, president of the CDA, in a statement.

There's also a misperception about who is susceptible to a disabling condition. More than 80 percent of respondents think a disability can happen at any time, yet, the council says, a "significant number" don't believe they're personally at risk.